Duties in Queensland

Top call centre questions

Who is liable to pay transfer duty?

All parties to a transaction are liable to pay transfer duty. In most cases, this duty is paid by the purchaser. However, there are some circumstances where the vendor is required to pay (e.g. certain transfers of business and options to puchase).

If duty is not paid by the due date, we will issue a final demand to the party who received the assessment notice. If the duty remains unpaid, we will inform all parties to the transaction that duty must be paid. We may also bring legal proceedings against all parties to recover the debt.

Do I have to pay duty when I buy a boat?

If the boat is sold by itself, it is not subject to duty.

If the boat is sold as part of a package which includes other property on which duty is payable, such as a fishing business, it may be subject to duty.

See sections 29 and 37(3) of the Duties Act 2001.

Will I pay duty on the purchase of 'off the plan' management rights?

No. Management rights are not listed in the definition of a new right, therefore duty does not apply. See section 9(1)(f) of the Duties Act 2001.

If a dutiable property is transferred from a partnership to a company whose shareholders are the partners, is duty still payable?

Yes, the transaction is still a dutiable transaction.

When determining land value, is an easement or a electricity encumberance on land (voltage lines) considered an encumbrance?

No. For the purposes of duties, these are not encumbrances and are taken into account when determining the value of the land. See section 11(7) and 14(1) of the Duties Act 2001.